Cement News tagged under: Egypt

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Egypt: Suez Cement to close Tourah Factory 1

06 October 2014, Published under Cement News

Suez Cement Co has voluntarily agreed to close its Tourah Factory 1 to comply with the local government's policy to reduce the number of facilities that do not meet environmental standards. The Egypt-base producer has instead chosen to invest in excess of EGP500m in environmental mitigation measures at its Tourah Factory 2,  local newspaper Al Mal News said yesterday.

Egypt: National Cement swings to full-year loss

03 October 2014, Published under Cement News

National Cement Co swung to a net loss of EGP138.4m (US$19.35m) in the fiscal year ended 30 June 2014 from a net profit of EGP93.5m for the year-earlier period. The pretax loss for the reported 12 months amounted to EGP135.5m, versus a pretax profit of EGP93.31m. The Egypt-based producer attributed the sharp negative change in its financial performance to two main factors: lower production costs of its competitors and discounts prices amid fierce market competition.

South Valley Cement 1H net profit reaches EGP64.9m

25 September 2014, Published under Cement News

Egyptian cement producer South Valley Cement Co said yesterday its first-half net profit increased to EGP64.9m (US$9.07m). In the comparative period of the previous year, the company’s net profit stood at EGP 57.8m.

Suez Cement plant to switch to coal

19 September 2014, Published under Cement News

Italcementi Group is looking to find a long-term solution to the fuel shortage problems it faces in Egypt with its subsidiary Suez Cement. Suez Cement needs to find a reliable fuel source for its cement plants to keep its 18 per cent of local cement sales. The Suez plant will use coal next November, while two of the group’s its other factories in Tora and Helwan will start in two years' time, said Suez Cement Co CEO, Omar Mehanna. “We will begin using coal to generate energy for cement prod...

Beni Suef Cement gas and diesel supply halted

10 September 2014, Published under Cement News

Beni Suef Cement announced that gas and diesel supply to its factories has stopped since 26 August 2014, according to a bourse statement on Monday. The firm added that when energy supply was halted, it had storage and a stock of clinker which prevented the company from being impacted during the period. Petroleum ministry said that the halt was occasional and will be resumed as soon as possible. He said it was not reported to the stock exchange because it did not have an effect at that ...

Cimpor's 1H14 cement sales rise by 10.8%

01 September 2014, Published under Cement News

Cimpor's first-half turnover showed a 4.4 per cent decline to EUR1243.1m, but at constant exchange rates there was a 22 per cent increase, while the EBITDA did improve by 1.6 per cent to EUR288.7m in spite of negative currency movements amounting to 37 per cent in the case of Argentina, 17 per cent for South Africa and 15 per cent for Brazil. The trading profit increased by 11.6 per cent to EUR197.3m and after a 22.6 per cent decline in the net financial charge to EUR176.5m led to a pre-t...

Egypt cement volumes hold firm

28 July 2014, Published under Cement News

Egypt’s cement volumes demonstrated resilience over the Jan-May 2014 period with the pricing environment also positive. During the first five months of the year, volumes totalled 21.7Mt – an increase of 1.8 per cent compared to the same period of 2013 which was impacted by interruptions in energy supplies and exceptional political events, writes CM-CIC Securities. Lafarge posted a particularly strong performance, with volumes up by 18.9 per cent (2.5Mt) in the Jan-May period, and by 19...

Sinai Cement awards FLSmidth contract to prepare for coal usage

25 July 2014, Published under Cement News

Sinai Cement Co (SCC) has awarded FLSmidth, the contract to provide the equipment to facilitate the use of coal, Daily News Egypt has reported. The Egyptian-based cement producer also said it would partner with local contractors and suppliers to equip the plant to use coal as an alternative energy to natural gas and fuel oil.

Egypt: Qena Cement 1H profit rises 14% YoY

24 July 2014, Published under Cement News

Egyptian cement producer Qena Cement’s first-half net profit increased by 14 per cent YoY to EGP165.3m (U$23m) compared with EGP144.9m a year earlier. The company’s sales for the six months to the end of June 2014 rose 25 per cent YoY to EGP559m. In other news, the company’s board has agreed to convert to using coal as an energy source at an investment cost of around EGP400m.

Suez Cement 1H earnings rise on cost control efforts

23 July 2014, Published under Cement News

Suez Cement Group of Companies (SCGC) posted an increase in revenues and earnings for the first half of 2014 which it attributed in part to cost control measures. While the outlook for cement demand is more encouraging, energy shortages remain a key concern for the Italcementi group company. SCGC, which operates a network of five production facilities across Egypt, reported a 23 per cent increase in consolidated revenues in the six months to the end of June 2014. Recurring EBITDA was six p...